Glencore-Xstrata merger: a timeline

The $65bn mega-merger between commodities giant Glencore and miner Xstrata is
close to collapse after Qatar’s sovereign wealth fund said it was unhappy
with the deal. Here we look back at the key events in the saga.

Ivan Glasenberg and Mick Davis, the respective chief executives of Glencore and Xstrata

“If you were to ask me today whether or not the natural resources team would accept the offer, then yes, we would. In terms of the natural resource team’s view, we see the joint entity as being a better solution for both companies.”

You want a good CEO? You are gonna have to pay them. I’ve got to be honest, if I was a CEO and my shareholders voted down my salary, my compensation, because they didn’t believe I was worth it, I think you’ve got to leave.”

Glencore says it is considering changes to the executive pay packages on offer to the likes of Davis as part of the merger

Qatar Holding demands 16pc improvement in the terms of the deal on offer from Glencore

David Cumming, head of equities at Standard Life, says Xstrata chief Mick Davis may have to step down in order for the merger to be completed